Ridgefield Market Report for March 2014

March 2014 unit sales of Single Family Homes in Ridgefield were lower as compared to the same time last year, dropping to 19 from last year’s 24. The same holds true for the Q1 2014 results where only 45 homes sold as compared to 62 in Q1 of 2013. This represents an approximately 29% drop in sales, which could be attributed to the unseasonably bad weather we experienced in January, February and March of this year.

The Median Sales Price of a single family home, however, showed a favorable increase in dollar value in Q1 2014 rising from $527,750 to $680,000. The March 2014 figures also follow this trend increasing to $619,000 from $562,500 a year ago. The Average Days on Market decreased by 15.4% from Q1 2013 to Q1 2014, and 30.8% when comparing the month of March alone. These two indicators would seem to point to a strong demand for homes in good condition that are priced appropriately.

The number of homes the went under contract in the month of March was 52, as compared to 32 last year, while the Months Supply of Inventory decreased to only 5.9 months compared to 11 months last year. The number of New Properties for Sale in March 2014 outpaced 2013 86 to 70, but overall we are still lagging behind when looking at the number of new properties listed overall in Q1 2014.

For a full graphical analysis of Ridgefield’s March and Q1 2014 real estate market, download the report here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/04/March-ridgefield.pdf

Karla Murtaugh Chosen To List $5.25 Million Zen-Like Estate

Recently featured in Ridgefield Magazine, Strawberry Ridge, located in the desirable town of Ridgefield, Connecticut, is a large, private estate owned by investment banker and NYU professor, Gerald Rosenfeld and producer, Judith Zarin. Offered at a price of US $5.25 million, the property is being presented by Christie’s International Real Estate, the world’s leading luxury real estate network, and exclusive affiliate Neumann Real Estate. Featuring a mid-century modern design by architects Donald Billinkoff and Yvan Prokesch, the structure accentuates a series of wings that encompass the best of living in every season.

“When we designed this home we had two goals, “ says Zarin. “First, to turn the traditional Colonial residence into a contemporary home that still looked appropriate in its location, and second, to have a home which provided fun and comfort in all four seasons of the year.” The owners also renovated and recently sold a modern, 6500 square foot townhouse in the West Village and are currently renovating a new apartment on the Upper West Side in preparation for the move back to Manhattan.

“It is rare to find a property that so perfectly marries modern minimalism with such warmth and comfort,” says Karla Murtaugh, who is brokering the property for Neumann Real Estate. “Strawberry Ridge is a perfect country residence for someone who appreciates clean, uncluttered lines in a bucolic setting, yet still wants to remain close to the action and accessibility of New York City.”

Located in the foothills of the Berkshire Mountains in beautiful Fairfield County, the wonderfully renovated and expanded 11,272 square foot residence sits behind natural privacy walls in one of Ridgefield’s premier enclaves. A striking front entrance opens to reveal a central reception area offering access to both wings of the home. The contemporary, vaulted design of the “summer” wing includes a sleek European kitchen, which seamlessly gives way to a breakfast area, and a large family room with multiple large-pane glass doors. An expansive great room and elevated gym lead to a stunning indoor pool with a spa and waterfall. Off the great room, the sumptuous screened porch with a built-in grill acts as a living room during the warmer seasons, and the recent addition of a stone fire pit and treehouse add to the unpretentious, zen feel of the property.

The “winter” wing can be defined as romantic classicism married with modern minimalism. The glass sunroom provides views of the beautifully terraced, outdoor living room designed by landscape architect Diane Devore of Fairfield, Connecticut. The formal living room features wall-to-wall views, while the large dining room – at once formal and elegant – is made equally soft and inviting with a plethora of maple paneling and a warm, stone fireplace. A relaxed library will satisfy the most discerning of book aficionados, while the original glass finial at the bottom of the circular stair to the private living quarters reflects the home’s three-century heritage.

The private, upper level spaces of the home continue to impress. The master suite is positively breathtaking with its exposed beams, comfortable fireplace, and incredible views of the guest house and woods beyond. The manicured 7.59 acre property has been meticulously sculpted to reflect the roots of contemporary design in Puritan tradition. The grassy stepped living room, and cedar and gravel walking path meandering around the perimeter of the property blend seamlessly with the outdoor pool, sport court and tennis court.

See more information about this spectacular home here. Contact me directly at 203-856-5534 for a private showing.

The Truth About Mold

Mold is one of the world’s most successful organisms – it will find its way into any location, even unexpected ones. However, that is not to say that mold is an inevitable – or even likely – problem to arise in your home. Mold grows under very specific conditions, all of which are easy to prevent.

Mold reproduces with spores, which are invisibly small organic particles that float everywhere. Although these spores are in the always in the air, when mold begins to grow, the spores may rise to levels that cause health problems and increase the likelihood that it will become a problem and spread. Outside of bread and other foods, the most likely place in your home for mold and spores to grow is on a wet surface, as it cannot grow without some kind of moisture.

To defeat mold before it begins, check your home to see if there are areas of high moisture or areas with direct water leaks. Fixing these issues should keep your house free of mold indefinitely. Keeping the relative humidity to less than 60 percent is also a good rule of thumb in ensuring your home remains inhospitable to fungus. Introducing a dehumidifier into a moist area, such as a basement in the summer time, is often an effective method to curb problems.

Mold can also grow in ducts and other HVAC systems. If the air in your home is causing problems, resulting in an increased difficulty when breathing particularly for those afflicted with respiratory issues, have your ducts checked to see if they need cleaning. Advanced filtration systems can also be installed in places that are predisposed to mold, but for most homeowners, this is not necessary.

Once it becomes established, mold can affect your health in a number of ways. Inhaling large amounts of spores can exacerbate allergy problems or cause other irritation. Although mold is generally not particularly harmful some varieties of mold, such as black mold, produce directly toxic substances called mycotoxins. However, the primary concern with mold is their effect on respiratory health.

If there is already mold in your home, it may be possible to clean it yourself. According to the EPA if there is less than 10 square feet of surface mold, scrubbing it off a hard surface by using detergent and water is generally enough to get rid of the problem. Soft or porous surfaces that have mold on them will likely need to be thrown away. Carpeting or curtains can get mold in various crevices and spaces in the material, and may therefore be impossible to clean. Painting over mold is not an acceptable way to treat mold. While cleaning the mold, make sure to wear gloves and goggles and avoid breathing the spores by wearing a respirator. If there is mold on an item that is particularly valuable, or the area of mold measures more than 10 square feet, contact a professional.

Although there is plenty of buzz about mold these days, in reality, mold is unlikely to pose serious problems for most homeowners. Usually, few areas in a home are prone to mold growth. By keeping tabs on moisture around your home and taking a few simple precautions, you should be able to remain mold-free forever.

If you’re thinking of selling and are concerned about the possibility of mold in your home prior to listing it, contact me for more information. I would be happy to assist you to get home ready for the upcoming real estate market.

Ridgefield Market Report for February 2014

February 2014 unit sales of Single Family Homes in Ridgefield were strong when compared to the same time last year, and when comparing the year to date results. Overall, I’m very optimistic that the market will continue to improve with a slow and steady rise in sales price and a decreased days on market as we start to build inventory.

The Median Sales Price of a single family home increased in February to $610,000 from $436,250 a year ago, however the number of units sold dropped from 18 to 10. The year to date sales showed the same trend with the unit sales figures dropping from 38 to 26, but the median price increasing from $507,500 YTD 2013 to $686,000 YTD 2014. Typically, the low number of closed sales during this time of year can be attributed to the busy holiday season, however early 2014 sales were further impacted by the weather including storms and frigid temperatures.

The number of homes the went under contract in the month of February was 37, as compared to 29 last year despite the horrible weather conditions. I feel a good number of buyers have chosen to delay viewing and purchasing homes until slightly later in the season.

The Average Days on Market in February also showed a marked decrease from last year with 199 days compared to 239. February Months Supply of Inventory and new Properties for Sale also decreased relative to last year’s numbers. It is clear we have more buyers than inventory in certain price segments. We expect this trend to continue into the spring selling season, which is good news for sellers deciding to list early.

For a full graphical analysis of Ridgefield’s February market, download the report here. You can also take advantage of my complimentary Comparative Market Analysis to find out what your home’s worth.

A User’s Guide To Fairfield County Wells

Compared to town water, owning a well may sound difficult or inconvenient. In reality, owning and operating a well system is as simple as following a few easy rules of thumb. Like most of the components in a modern house, wells are optimized to be relatively low-maintenance and easy to use.

Modern residential wells typically bottom out at around 60 feet below the ground. To combat potential surface contamination, wells are generally sealed with clay or another sealant material. The pipes that travel down to the water are usually of steel or PVC piping. However, the materials and specifics of each well will vary by driller. Generally speaking, the exact materials in your well will not affect the types of safety and maintenance precautions that you should take on a daily basis.

A yearly well check-up is the best form of preventative maintenance. Replacing the well pump alone can cost in excess of $4000 and a new well system can cost around $20,000 in areas with rocky soil like Ridgefield. The good news is that a well-maintained well will last more than 20 years. By following just a few simple tips, your well and the water it produces will remain potable and plentiful for years to come.

The yearly check-up should cover four basic points. It will test the flow and function of the mechanical components through checking pump performance, water levels, and the function of the pressure tank. Second, the system will be checked to ensure that it meets sanitation and local requirements. In addition, the water will be checked for a variety of contaminants such as bacteria, nitrates and non-biological contaminants like iron, manganese, high mineral levels, and sulfides. Finally, the inspector will give you a concise report of his findings that, by Connecticut law, will be given to you and archived by both the well company and government. Store your well records to ensure that you have proper documentation in the event that a problem arises.

Unlike a septic system, there are relatively few ways that the average homeowner can accidentally ruin his well. The most common way of disrupting the well’s function is by exceeding its capacity and running the well dry. Connecticut law proscribes a number of acceptable combinations of production and storage capacity. These regulations are designed to allow homeowners to use reasonable amounts of water without running their wells dry. Generally speaking, it is best to avoid doing multiple water-heavy activities at once. For example, avoid doing laundry, taking a shower, and using the dishwasher simultaneously.

In addition to guidelines for water usage, remember these tips about maintaining the safety of your water. Find out precisely where your well is and avoid storing and using toxic chemicals within 50 feet of the well. Paint, fertilizer, pesticides, and motor oil are just a few examples of materials to be avoided. In addition, avoid back-siphonage by keeping hoses out of receptacles that are being used to mix contaminating materials such as lawn fertilizers. Also, ensure that your home, waste systems, chemical storage, and well are properly separated. Periodically check that your well cap has remained properly sealed. When rodents or other small creatures become lodged in the system, the quality and taste of your water may be compromised. Also keep your well cap clear of excess snow, leaves, and other detritus.

By following just a few simple guidelines about the care of your well, you are sure to enjoy plenty of high-quality water for years to come.

For official documentation about well specifications and stipulations, please see the following laws, hosted by the University of Connecticut.

For additional information about wells and their maintenance, see this article from On Tap.

Should You Buy A Home With A Septic System?

Septic systems are ubiquitous in Ridgefield and the surrounding towns and are simple enough to maintain that anyone can successfully navigate one. Often, the idea of a septic system may be unfamiliar – and even daunting – to new buyers, but in truth, following a few basic rules will keep your system healthy for years to come. Having a detailed home inspection – including checking the septic system – will ensure it is in good working order when you purchase the home. Here are 5 tips every septic system owner should follow:

1. There is a large financial incentive to maintain your septic system as yearly maintenance generally costs around $200-300 per year, while replacing a whole septic system usually costs up to $15000 or even more depending on the size and location of the system. An average system should be pumped every 2-3 years depending on the size of the tank and number of people in the house. Calling a reliable septic company will ensure your tanks are properly attended to.Poorly maintained septic systems can create hiccups in selling a home and may delay sale or require fixing to meet code.

2. Avoid introducing large amounts of water into the system at once. Draining a hot tub, for example, can disrupt the chemistry of the system and should be avoided or done slowly. The same goes for long showers, doing multiple loads of laundry in sequence, or any other water-heavy activity.

3. Do not send certain chemicals and materials down the drain. The rule of thumb to use is that only water, toilet paper, and waste should be flushed. Most house cleaning supplies are also okay when used in moderation and according to the product guidelines. Drain cleaners, though, must be universally avoided as they can destroy the delicate chemical balance of your septic system almost immediately. In addition, many products that you might have around the house, such as paint, varnish, or antifreeze can ruin your system’s chemistry and should not enter the system. Septic systems rely upon the health of their bacteria, so anything that will disrupt the lives of these simple organisms, even unexpected things such as chemotherapy drugs or large quantities of anti-bacterial soap, can cause problems.

4. You should know about your septic system’s location. If the system was constructed in the last 30 years, the town should have files that will show you the locations of each of the components. It is important to know where your leaching field and main tank are. Waste flows into the main tank, where materials that are lighter than water rise to the top and materials that are heavier than water sink to the bottom. In between is a layer of mostly water. Every time one gallon of water enters the system main tank, another gallon will exit out into the leaching field, which is a set of underground pipes that drain water into the ground. In a properly maintained system, only liquids will ever leave the tank. However, when certain elements are introduced into the system, it can fail, causing solids to either back up or enter into the leaching field. Fixing a malfunction such as this can be very expensive.

5. Your septic system’s health is not merely a function of what enters it. Most importantly, the leaching fields require special attention. Avoid planting plants directly above the leaching fields. Roots, for example, can enter the field and disrupt its functioning. Also try to avoid driving over the field as this can compress the soil and make it difficult for water to leach out. During the winter months, avoid shoveling snow off of the leaching field. Snow acts to insulate the ground, making the field less likely to freeze and fail. The leeching field can also be damaged directly, such as by accidentally severing one of the pipes or other physical damage. Knowing the location of each of the system’s components is vital to maintaining the system.

Although septic systems may seem difficult, in reality they are quite simple to maintain and own. Maintenance is as easy as keeping some simple rules in mind and calling a septic company to inspect and pump the system regularly. Although transitioning to a more rural suburban life might be tough at times, your septic system will be a breeze. For more detailed information about the maintenance and science of your septic system, you can consult the following in-depth sources from the New Hampshire DES and West Virginia University’s National Environmental Services Center.

7 Tips for Creating a More Energy Efficient Home

With one of coldest winter’s on record upon us, energy costs are a major concern for most home owners in Fairfield County. Not all homes were designed with energy efficiency in mind, but there are many simple ways to cut down on electricity costs and reduce your carbon footprint. Below are a few tips to get you thinking about how easy it is to help the environment and your pocketbook.

1. Find out where your inefficiencies are. Performing a Do-It-Yourself Energy Audit is one great way to find out how to make your home more efficient. These tests will find areas of inefficiency, among other things, which will allow you to understand the extent to which you’re wasting fuel and electricity on a daily basis. A Professional Energy Audit is another alternative if you are really looking for concrete solutions to an aging home, or one that is extremely inefficient.

2. Replace home utilities with more efficient versions. Tankless water heaters, for example, are considerably more efficient than those with tanks. Replacing just one light bulb with an LED light bulb could save up to $125 over the course of the bulb’s life. Alternately, Compact Fluorescent Bulbs (CFLs) provide smaller but comparable savings to an LED bulb. Large appliances such as refrigerators, ovens, and stoves usually constitute 20% of a home’s energy usage. Upgrading to new Energy Star appliances can result in considerable savings to you in the long run.

3. Improve the efficiency of the fixtures already in your home. Replacing air conditioning and heater filters is one easy way to increase the efficiency of these high-energy systems. Another simple way of reducing energy costs is installing more efficient shower-heads and other water infrastructure. Using less water generally means heating less water.

4. Increasing the efficacy of your insulation can also be a moderately easy fix. Exposed insulation, as is likely to be found in your attic, will often visually demonstrate the problems that it may have. Look for darkened areas in the insulation. This may indicate that there is a leak or hole near this area of insulation, which not only reduces the efficiency of that area, but may indicate that outside air and/or water is penetrating into unwanted places. Any part of your home that is not insulated is money out the door and should be addressed.

5. Sealing cracks and areas where warm or cool air can escape to the outside is a definite energy saver. Adding weather-stripping around your attic opening can increase the efficiency of your home. Around doors and windows, check to make sure that the areas between your home and the outside are properly separated. Your baseboard, attic hatches, mail slots, and window frames are all likely suspects for inefficiencies in your house.

6. Installing double-paned skylights is another great way of reducing energy usage while also increasing the beauty of your home. Replacing a few hours of light per day with sunlight is good for both your energy costs and resale value. Also look into light shelves, clever installations that can move natural light deep into your home where it would otherwise would not go.

7. There are also high-tech options for reducing your home’s energy usage. Some modern thermostats can be controlled by a number of devices such as smart phones, and can be programmed to help your energy usage become more transparent. For example, the Nest Learning Thermostat can learn your schedules and habits to automatically adjust your home’s heating and cooling to be more efficient. As heating and cooling your home is one of the largest energy expenditures, products such as geothermal heat pumps now have strong tax incentives and can keep your home comfortable for a fraction of the cost of heating oil.

Although making major changes to your home can be difficult and initially expensive, the savings you earn in the long run and during resale can justify many home improvement costs. If you have made specific green improvements to your home, be sure to tell your realtor about them when listing your home for sale. Don’t forget to sign up below to receive more informative articles, listings and community happenings.

Fairfield County Schools Produce High Marks and High Prices

The old adage that says “education is the best investment” may not only be true about investing in learning. Realtor.com’s recent survey shows that parents are willing to pay a sharp premium to be in towns with great schools, which is great news for homeowners in Fairfield County.

According to the survey, 63 percent would go without a pool or spa, 50 percent would give up accessible shopping, and about 40 percent would be willing to give up an extra room or nearby trails and parks. A full 90 percent of home buyers ranked school boundaries as a top concern when purchasing a house. While housing values are still down, but quickly rising, it means that moving to a town with great schools is not only good for your kids, but it might also be great for your finances when the time comes to sell.

Fairfield County, beyond its rustic charm and convenient location, is home to some of the best schools in the country. Ridgefield High School was ranked #4 among Connecticut high schools, just behind the other Fairfield County towns of Darien and Weston. Ninety-nine percent of seniors graduate each year – a sterling record by any standard – and 91% of its 2013 graduating class went on to 4-year colleges, among them the Princeton, Dartmouth, Cornell, Columbia, the University of Chicago, and MIT. The entire Ridgefield Public School system is ranked top 10 in Connecticut. Between the beautiful town, plentiful parks, and educational excellence, Ridgefield emerges as an optimal place to own a home.

As the world becomes more connected, education has become an invaluable commodity. As such, places like Fairfield County, whose schools are truly among their greatest assets, are sure to rise in value. Ridgefield and the surrounding towns have a long history of producing excellent students and providing an ideal environment for young minds.

If you’re interested in moving to Ridgefield, sign up to receive the latest new home listings delivered right to your inbox, or contact me to see how I can work with you to find you a great home in Connecticut’s Number 1 ranked town.

Ridgefield Market Report : 2013 Year In Review

The Housing Recovery

After the worst housing downturn since the Great Depression, we are back in full force. After 8 years of correction as a result of the “housing bubble”, it is safe to say all the characteristics of a normal real estate market have returned. Prices remain stable, median selling prices are improving and overall market activity is the highest it has been in 5 years. Consumer confidence has increased, which has brought more buyers into the market, and sellers are feeling more confident that they are not selling their home in a sliding market. All price segments posted positive gains, while homes valued up to $800,000 continue to dominate the market. The popular price category of $900,000 – $1,000,000 tripled in volume when compared to 2012. The market for homes priced over $1 million grew 46% – a strong indicator of buyer confidence.

Connecticut’s #1 Town.

Ridgefield unit sales were up 45%. This demonstrates confidence that Ridgefield is a destination for many new buyers, while some sellers are also trading up or down to stay here. Buyers see the outstanding value Ridgefield has to offer – quality lifestyle, cost of living, top rated education and a vibrant community. In fact, Ridgefield experienced the highest increase in annual unit sales when compared to all towns in Fairfield County.

The Road Ahead.

We saw buyers react to the uptick in interest rates this summer, though interest rates are still low by historic averages. Since values are on the incline, we expect the buyer pool to increase in a last ditch effort to catch the market before prices and interest rates rise. Sellers are feeling more confident as they prepare for the Spring Selling Season, but realize that certain fundamentals still apply. Homes in “turn-key” condition will continue to outpace the competition in terms of achieving the maximum selling price and lowest days on market. A fair number of sellers who used this strategy had multiple offers on their home – from wonderful starter homes to sophisticated properties priced in excess of $1 million. Supply and Demand will continue to drive the Real Estate market.

Download Ridgefield Market Report 2013 Year In Review

http://108.179.243.173/~d5o7l0g4/wp-content/uploads/2014/01/140101-2013-Year-in-Review-V9-Ltr2.pdf

Tag Archive for: Buying

The Housing Recovery

Connecticut’s #1 Town.

The Road Ahead.